What Are the Steps to Start a Business In Malaysia?
1. Decide the business type
There are several different types of business entities available in Malaysia. Every business entity has its own compliance requirements, tax structure etc.
If you are a local entrepreneur, you can register your company as either a Sole Proprietor, Limited Liability Partnership (LLP), or General Partnership and Company as they are the common business entities available in Malaysia.
If you are a foreign entrepreneur: There are two familiar business entities for foreign investors: a locally incorporated company or a foreign-owned company. Foreign investors can set up a sole proprietorship or partnership in Malaysia with the condition that they have permanent residency (“PR”) in Malaysia. Apart from the options above, foreign investors can also choose to register their business as either a private limited company, or a Labuan company, or a representative office.
2. Name your business
Every business needs a name. A good business is more than just a brand name – it is also part of your marketing strategy and brand identity. Run a name check after you have handpicked the business name:
complete Request For Availability Of Name form and submit to Suruhanjaya Syarikat Malaysia (“SSM”); and
you need to pay a fee of RM30.00 for each name applied
After the name checks, register the name with SSM to get approval from the Company Formation in Malaysia.
3. Scout for a business premise Just like a good business name, a good business location is part of your marketing strategy.
4. Registered office address In Malaysia, every business must have a legally registered local office address.
5. Prepare the incorporation documents
Memorandum and Article of Association / Constitution
Statuary Declaration By A Director Or Promoter Before Appointment
Declaration of Compliance
Company name’s approval letter from SSM (one copy).
Identity card of every director and company secretary (one copy each).
6. Incorporate your company You need to submit the Incorporation Documents to SSM within three months from the approval date of the company’s name by SSM. You will need to apply for a new name search if you fail to lodge your incorporation documents to SMM within 3 months.
7. Pay registration fees The Company registration fee is RM1,000.
8. Issuance of a Certificate of Registration You will get your new business Registration Certificate within one hour from the payment transaction of the registration fee made.
Amazing Unity Sdn Bhd is a business consultant for a new company/manufacturing setup or renewal services in Johor Bahru, Johor, Malaysia.
More info at www.amazingunitysdnbhd.com
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